Selected draft findings
HDAdvisors
2022-09-08
How have housing needs changed across the region since the original Framework release?
Four parts:
| Source | Original | Current |
|---|---|---|
| American Community Survey | 2013-2017 5-year estimates | 2016-2020 5-year estimates |
| Comprehensive Housing Affordability Strategy | 2012-2016 5-year estimates | 2014-2018 5-year estimates |
| Census Population Estimates Program | 2018 | 2021, including 2020 Decennial Census |
| Census Building Permits Survey | 2018 | 2022, through July |
| MLS | 2019 | 2022, through August |
| CoStar | Not used | 2022, through August |
Additional sources used for this refresh include:
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Use with caution
Estimates for 2020 (the 2016-2020 5-year ACS release) may be impacted by lower survey response rates during the COVID-19 pandemic.
State and federal eviction protections reduced City eviction filings and judgements to a fraction of what they were pre-pandemic
Average eviction judgements per month in 2022 were 62 — an 89 percent reduction from the 2019 average of 576
As rent relief and eviction protections have ended, eviction rates should be monitored closely
In 2018, there was a shortage of 7,569 rental units for households below 80% AMI
Greatest need in the county has been among households below 50% AMI
But the need for rental at the higher end has been increasing (15% increase)
Between 2016 and 2020, Hanover County has seen an overall decrease in households making less than $100,000
The decrease in lower income households is reflected in the loss of lower income households and increases in median household incomes among homeowners and renters
Higher incomes have correlated with higher housing prices (with median home prices well into the $400,000s)
In stark contrast to homeowners, renter households are not seeing large increases
Most notably, there’s been a decrease in renter households with children by 1,010
Feedback from PHA Board and staff
Complete final updates on report (incorporating edits and suggestions)
Consistent branding and visualizations
Provide updates to data based on timing